LondonMetric Property (LON:LMP) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of LondonMetric Property Plc (LON:LMP) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 200.67 ($2.58) and traded as low as GBX 191.34 ($2.46). LondonMetric Property shares last traded at GBX 192 ($2.47), with a volume of 4,178,819 shares traded.

Analyst Upgrades and Downgrades

LMP has been the topic of several recent analyst reports. Citigroup upgraded shares of LondonMetric Property to a “buy” rating and set a GBX 251 ($3.23) target price on the stock in a report on Wednesday, July 31st. Shore Capital reiterated a “buy” rating on shares of LondonMetric Property in a report on Tuesday, September 24th.

LondonMetric Property Stock Performance

The firm’s fifty day moving average is GBX 201.85 and its 200-day moving average is GBX 200.67. The company has a current ratio of 0.68, a quick ratio of 0.81 and a debt-to-equity ratio of 59.04. The stock has a market capitalization of £3.88 billion, a PE ratio of 1,745.45, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90.

LondonMetric Property Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, August 29th were given a dividend of GBX 2.85 ($0.04) per share. The ex-dividend date was Thursday, August 29th. This represents a dividend yield of 1.41%. LondonMetric Property’s payout ratio is currently 10,000.00%.

Insider Activity at LondonMetric Property

In other LondonMetric Property news, insider Martin McGann sold 500,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of GBX 204 ($2.63), for a total transaction of £1,020,000 ($1,312,572.38). 6.29% of the stock is owned by insiders.

LondonMetric Property Company Profile

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a grocery-led long income portfolio, with 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.